Time to Make a Deposit at Bank of New York Mellon

Bank of New York Mellon recently has had to weather low rates, subdued markets and embarrassing lawsuits. Why the sun is finally about to peek through.

As Hurricane Sandy's 50-mile-per-hour winds whipped around his Westchester home last Monday morning, Bank of New York Mellon CEO Gerald Hassell calmly chatted by phone about the sunny side of this week's presidential election. It "should help bring clarity and direction on ways to meet the fiscal cliff, and help investor and market participation," he told Barron's.

Hassell has been asked to bring these same traits to Bank of New York Mellon to lead it out of its stormy recent past. He was named to the top job at...